Earlier this week, the Michigan Strategic Fund approved support for the renovation of a historic building in Milwaukee Junction. Standing next to the Piquette Plant, the former Studebaker Plant will be rehabbed into apartments.
The project is led by the Platform, who has done extensive development work in neighboring New Center. The project is touting 'workforce housing,' with 161 residential units offered from 60 to 120% Area Median Income. The plan also includes 190 surface parking lots.
The $40.4 million project received a $5 million Michigan Community Revitalization Program performance-based loan, and was approved for $882,821 in state tax capture for brownfield activities.
“We are excited to continue investing in and enhancing the vibrancy of the Milwaukee Junction neighborhood,” said Peter Cummings, Chairman and CEO of The Platform. “Piquette Flats transforms a long-vacant historic industrial building into much needed workforce housing and brings new energy to the neighborhood. We’re grateful for the support of the MEDC, the MSF Board and the city of Detroit for providing the support and assistance necessary to bring this project to life.”
Development is ramping up in the Milwaukee Junction neighborhood. The redevelopment of the enormous Fisher Body 21 plant is moving forward. Stanley Hong's Mannia Cafe will be renovated into a new nightlife location. Various bars and restaurants have opened up in the past few years, along with loft conversions in industrial buildings. And Chroma opened along East Grand Boulevard last year.